In The First Quarter, An Li Fang Holdings Fell 7%, A Net Decrease Of 39 Retail Outlets.

In April 26th, Anli Fang holdings announced that the overall sales of the group during the first quarter of 2019 fell by about 7% compared with the same period last year due to the depreciation of the renminbi against the Hong Kong dollar and the weakening of the overall retail atmosphere.

The announcement shows that in the first quarter of the year, the sales of the same store for more than 15 months, and the sales of the same store achieved an annual high single digit decline.

By the end of March 2019, the group's retail sales decreased by 39 compared with the end of December 2018, with a total retail sales of 1798, of which 1520 and 278 were sales counters and specialized stores.

The net decrease in total retail sales is consistent with the strategy of an Li Fang holdings to adjust the sales network.

According to the characteristics and location of market segments, an Li Fang Fang distribus brand and product mix to suitable retail outlets and operates integrated stores to capture a broader target audience and to achieve a balance in the proportion of sales channels.